Eurodad media statement in response to Commissioner Vestager announcement that Belgian 'Excess Profit' scheme amounts to illegal state aid
Today, Commissioner Margrethe Vestager announced that a Belgian 'Excess Profit' scheme amounts to illegal state aid, as it has allowed around 35 companies to avoid paying 700 million euros in tax.
In response to this decision, Tove Maria Ryding, coordinator of tax justice with the European Network on Debt and Development (Eurodad), said: "This is the latest in a string of cases that highlight how secret tax rulings, also known as 'sweetheart' deals, are allowing multinational corporations to escape millions of euros in taxes across Europe. However, by concentrating on these individual cases instead of ensuring Europe-wide tax transparency and a fundamental change of our tax system, the Commission is treating the symptoms instead of the cause of widespread tax dodging.
"Instead of endless investigations that scratch the surface of the tax dodging scandal, we need companies to report publicly on where they make their profits and where they pay their taxes, and instead of unclear tax laws and secret sweetheart deals between governments and multinational corporations, we need clear rules that ensure everyone pays their fair share."To request an interview, or for more information, please contact Julia Ravenscroft, Communications Manager at Eurodad, on email@example.com or +32 2 893 0854.